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By HFblogNews · Posted
Date : 24th February 2020 Events to Look Out For Next Week 24th February 2020.The economic data has been and will continue to be overshadowed by the Covid-19 outbreak. The week ahead starts light, with the German Business Sentiment Index and Chinese Retail Sales on Monday. Leading indicators dominate the releases, but the event of the week is the US GDP and Consumer Confidence, which should shed light on whether the epidemic is visible in the data globally.Monday – 24 February 2020 Japan – Emperor’s Birthday Retail Sales (CNY, GMT N/A) – China’s retail trade growth stood at 8 percent year-on-year in December 2019. However a strong decline is expected for January, following the recent releases indicating that new car sales plunged 92% in China in February and airline traffic is expected to post the first drop since 2011 amid heavy virus containment measures in China. German IFO (EUR, GMT 09:00) – The German Business Sentiment Index released by the CESifo Group is closely watched as an early indicator of current conditions and business expectations in Germany. February’s numbers are expected to incline. Tuesday – 25 February 2020 Leading Economic Index (JPY, GMT 05:00) – The index is expected to show no change in the outlook of the Japanese economy and stand at 91.6. Gross Domestic Product (EUR, GMT 07:00) – German GDP is expected to have fallen by 0.3% on an annualized rate in the last quarter of the year, compared to 1.0% growth in Q3. Conference Board Consumer Confidence (USD, GMT 15:00) – Consumer Confidence is expected to have increased to 132.4 compared to 131.6 in the previous month. Wednesday – 26 February 2020 New Home Sales (USD, GMT 15:00) – The housing recovery should extend into 2020, assuming that mortgage rates remain low and Fed policy remains accommodative. The January new home sales should post a 2.3% climb to a 710k pace, after a dip to a 694k rate in December, versus a 12-year high of 730k in September. Trade Balance (NZD, GMT 21:45) – The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. It will be interesting to see whether the New Zealand trade balance already posts an impact from the epidemic. Thursday – 27 February 2020 Gross Domestic Product (USD, GMT 13:30) – US preliminary GDP growth for Q4 is expected to trim to 2.0% from 2.1%. Durable Goods (USD, GMT 13:30) – Durable goods orders are expected to fall -1.5% in January with a -4.7% drop in transportation orders. Defense orders should fall by -29%, following the 101.4% December surge. Boeing orders declined to zero planes, following a dismal 3 planes in January. Tokyo Core CPI and Unemployment Rate (JPY, GMT 23:30) – Tokyo CPI is usually a good proxy for the Japanese economy’s overall inflation rate. In February, the CPI ex Food is expected to have stood at 0.9% y/y. The unemployment rate is expected to have climbed to 2.3% from 2.2% in December. Retail Sales (JPY, GMT 23:50) – Following a precipitous 3-month dive in October -December, due to a prolonged hit to exports from soft global demand and a slide in consumer spending following a nationwide tax hike, January’s Retail Sales are expected to drop to -1.1% on a y/y basis. Friday – 28 February 2020 Unemployment Rate (EUR, GMT 08:55) – The German unemployment rate is expected to have remained at 5% in February. Harmonized Index of Consumer Prices (EUR, GMT 13:00) – The German HICP inflation could rise to 0.3% m/m for February from the drop seen at -0.6% m/m last month. Gross Domestic Product (CAD, GMT 13:30) – A sharp slowing in Canada’s real GDP growth rate to 1.2% (q/q, saar) is expected in Q4 following the 1.3% Q3 growth. This should not add to the backing for a rate cut for the Bank of Canada. Personal Income (USD, GMT 13:30) – A 0.3% rise in personal income in January is anticipated after a 0.2% increase in December, alongside a 0.2% rise in consumption that follows a 0.3% December gain. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Andria Pichidi Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission. -
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Why are Market Wizard's insults and humiliations tolerated with impunity whereas our replies are sistematically banned? Just curious. -
Bitcoin (BTC) Consolidates As Bears And Bulls Tussle Above $9,400 Support Key Resistance Zones: $10,000, $11,000, $12,000 Key Support Zones: $7, 000, $6, 000, $5,000 BTC/USD Long-term Trend: Ranging Bitcoin has failed to break above $10,400 overhead resistance. The bulls made two unsuccessful attempts at the resistance. In the recent one, the bears took the price to a low of $9,290 and then pulled back above $9,400. In the interim, the price is fluctuating above $9,400 and approaching the high of $9,800. As the bulls have failed to push above the overhead resistance, the pair may commence a range movement. Nonetheless, it is anticipated that if the bears break below the $9,400 support, selling pressure may resume. Meanwhile, BTC may continue the range-bound movement. BTC/USD – Daily Chart Daily Chart Indicators Reading: After the downward move of Bitcoin, the Relative Strength Index has also fallen to level 52. This simply means the coin is above the centerline 50. In other words, BTC is in an uptrend and it is likely to rise. Price broke the support line of the ascending channel. The uptrend will be in proper perspective only when the bulls break into the ascending channel. BTC/USD Medium-term Trend: Bearish On the 4- hour chart, Bitcoin now trades between $9,400 and $10,200 after the first breakdown at the $10,400 overhead resistance. The bulls tested the resistance at $10,200 twice , before the downward move. The large bearish candlesticks tested a low of $9,290. However, the small body candlesticks that follow are called indecisive candlesticks. BTC/USD – 4 Hour Chart 4-hour Chart Indicators Reading Presently, BTC is trading above a 25% range of the daily stochastic. That is the coin is in the bullish trend zone. The 21-day SMA and the 50-day SMA are sloping horizontally indicating a sideways trend. General Outlook for Bitcoin (BTC) From every indication, if the bulls fail to push above the overhead resistance, the price action in October and November will repeat itself. For the past three days, BTC is still fluctuating above $9,400. Instrument: BTC/USD Order: Sell Entry price: $9,700 Stop: $9,900 Target: $8,400 Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results Source: https://learn2.trade -
The Sharp Recovery In EURJPY Lose Momentum, Falters Beneath The Level At 121.00 EURJPY Price Analysis – February 21 The single European currency rose 88 basis points or 0.73% against the Japanese yen in the previous session. After two consecutive sessions showing strong growth, EURJPY is now losing some momentum amid JPY bulls. Key Levels Resistance Levels: 122.37, 122.87, 121.00 Support Levels: 119.99, 117.08, 115.83 EURJPY Long term Trend: Ranging The EURJPY rebound from the level of 118.46 continues to advance from the previous session, but today it has stalled. Super-speed acceleration claims that a decline from 122.87 level could have ended in three waves to 118.46 level. However, the support level formed by the intersection of the moving average of 5 and 13 at 119.90 level can support the exchange rate during the trading session on Friday, while greater advance can continue from the level of 115.83. EURJPY Short term Trend: Ranging From an analysis of the 4-hour time frame, the intraday bias is now on the rise for a resistance level of 121.15 at first. The breakthrough will be aimed at 122.87 high levels. On the other hand, a breakdown of the secondary support levels of 119.99 could change the bias towards lower testing to retest the low level of 118.46 instead. Instrument: EURJPY Order: Sell Entry price: 121.00 Stop: 119.66 Target: 121.47 Note: Learn2Trade.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results Source: https://learn2.trade
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